# Mexican Peso soars against US Dollar ahead of US Nonfarm Payrolls report

> The Mexican peso rose against the dollar on the Fed decision and softer US employment data, with USD/MXN near 17.08. Banxico's survey expects rate cuts to 9.25% and a year-end exchange rate of 18.50, while Mexican manufacturing PMI slowed to 50.2.

- Date: 2024-02-01 · published 2024-02-01T12:00:00.000Z
- Category: macro · region Mexico · magnitude low
- Page: https://feedsoft.ai/events/31893-mexican-peso-soars-against-us-dollar-ahead-of-us-nonfarm-payrolls-report
- Commodities: [Mexican Peso (MXN per USD)](https://feedsoft.ai/c/USDMXN.md)

## Why it matters

A stronger peso lowers dollar-denominated feed input costs for Mexican buyers, a marginal bearish factor for US export demand, though the effect on grain prices is small.

## Read by commodity

- USDMXN: bearish ▼

## Sources

- fxstreet.com: https://www.fxstreet.com/news/mexican-peso-rises-after-mixed-us-data-feds-decision-202402011721

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.